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Feb 15, 2013 1:35am EST
not agree on a debt ceiling deal, the obama administration proposed what was known at the time as a compulsory trigger to force spending cuts if both sides couldn't agree on a deficit reduction plan. it was meant to be so awful that no one would let it happen. hill republicans essential signed off. the president signed it. both sides guessed these automatic across the board spending cuts we've now come to know as sequestration. the new deadline for the cuts is the end of the month. and there is no deal to stop it. we keep hearing how bad it will be. one day a weak furloughs for up to 800,000 civilian pentagon employees. friday the navy is expected to announce it will postpone the repair of almost two dozen ships, threatening tens of thousands of jobs in virginia alone. and those repairs? >> if we don't do that, we are sending a ship out in harm's way that may not be as fit to fate as it should be. >> so here's how we avoid it. >> reporter: virginia's tim kaine is among senate democrats proposing an alternative, a $120 billion deficit reduction plan half in spending cuts split b
FOX Business
Feb 11, 2013 1:00pm EST
our near default based on the debt ceiling fiasco, okay, it makes sense to go into a panic zone, drop down to 1 1/2 to 2% on a 10-year. fast forward 18 months we've resolved the debt ceiling issues and the fiscal cliff to boot. the ecb has done a 180 on supporting spain. the equity markets have more than fully recovered and yet bonds are still mired down to 1 1/2 to 2%. if this is year people wake up and say rates are too low for the conditions. lori:. lori: do you believe the markets are undervalued. many are near 52-week highs. many all-time highs but you still think there is value? >> we look long term people get obsessed with numbers on the s&p because that is where we peaked back in '99 and 2000. they assumed it was overvalued there because it was overvalued then. in our price matters '99 and 2000 that was 100% overvalued. that happened four times in history. every time that's happened you spend about 12 to 14 years chopping sideways. we're getting to the end of that. on that same 1550 type level we're now thinking it is 10 to 15% undervalued. why would that be? well earnings hav
Feb 16, 2013 3:00pm PST
, and the debt ceiling. the sequester, it really aims at the wrong side of the problem. the long-term challenge is entitlements, the sequester is fundamentally about discretionary spending, from a fiscal hawk point of view it doesn't get to the issue. >> what you say, ron, revenue, additional tax increases? >> from a -- tactical point of view, the democrats are putting themselves in the position by not getting everything they want. asking the republicans to come back and asking for a second tax increase is asking for a lot, politically. >> what about that dana? >> absolutely, the moment the deal was struck on new year's eve or new year's day, kind of a blur, republicans came out and said if the democrats think they will get anymore tax increases they're living on mars. it is not going to happen. it is it, we're done, not going to happen. you're exactly right, we're done. what is so fascinating, making people frustrated with washington right now is exactly what you said, ron, the whole point of the sequester was to cut in places that hurt, because they did that to force congress to do what was h
Feb 17, 2013 10:00pm PST
on the debt ceiling and other issues, it is time to look further down the line. >> i am only 16, and some day i hope to have my own kids, and i think that this is -- i want them to live in a world that's, you know, like environmentally safe and natural. >> keystone xl is a dirty and dangerous pipeline to literally cut the country in half carrying a dangerous fuel, and it will cause run away climate change. >> reporter: on the flipside, folks say tighter emission standards have already cost some jobs at coal plants in places like west virginia and tightening them further is only going to squeeze that part of the economy even more, and sol of the higher prices will be passed on to you and me as consumers. they also argue that the keystone pipeline will be safe with the technology today and bring jobs to places like nebraska and also help the u.s. to become more energy independent. don? >>> all right. thank you, chris. the big stories in the week ahead from wall street to hollywood, and our correspondents will tell you what you need to know. we begin with what is happening tonight at the pentago
Feb 11, 2013 4:00pm PST
, that would happen with the debt ceiling but that wouldn't happen with the fiscal cliff, would it, michael? >> well, you never know. i'm not going to take the position other than people i've talked to, but a lot of them said hey you know, i'm worried about this because the economy is very fragile. when you start pulling defense spending and other things out of that economy who really knows? now. >> cenk: no, no, i would take that chance in a second. you're telling me i'm going to continue this bloated defense spending for the rest of time because it might hurt the economy? what about spending on the poor and middle class. nobody is concerned about that when we pull that out. oh that's fine. that wouldn't hurt the economy. that makes no sense. i'm afraid it's a lot of conservative framing and the president has bought into a lot of it, that even the tougher president obama is not that much of a progressive to begin with. >> well, i think the fascinating thing when you watch the program is the extent whatever they believe and wherever that is coming from and whatever the policies are the pers
FOX Business
Feb 11, 2013 7:00pm EST
with and really is the debt ceiling. lou: no problem with that. >> if you listen to the now they're trying to switch to this message. the number two guy in the house gave a speech at the american institute. american enterprise institute clearly talking, stressing quality of life issues for middle-class families. listen to what he says. the republican response to the state of the union. he will be talking about that. they are trying to picture of some of these fiscal fights to a more quality of life america economic well-being argument. lou: i think the pivot will be looking for it. cannot wait for the reality. and thank you both. >> thank you. lou: president obama awarded the medal of honor to clinton from a share, a former active duty army staff sergeant who fought off a 2009 television attack in afghanistan. the 31 year-old rallied 53 of our troops who obama's says were outnumbered, outgunned, almost overrun. it was a date as long fire fight against 300 heavily armed taliban and insurgence. a combat outpost, and isolated base located in eastern afghanistan. >> i accept this tremendous ho
FOX Business
Feb 14, 2013 4:00pm EST
on the first of march, debt ceiling issue right after that, and then we have the eurozone. just right now they are trying to figure out how can we raise more capital to sustain the countries in europe. if that goes through, that's going to be a big issue for trading in the u.s. and internationally as well. taking a big bite out of potentially what we can have for a profit overall. those are real worries. but somehow, the u.s. markets right now to push those aside and avert those because someway, somehow, they are going to be averted and there is going to be an answer to them in the market will go straight up. which i think is a little bit of false sense of security. those opportunities that they do, those are the buying opportunities. long-term, optimistic, short term. david: we will get to your stock picks in the second. they are yearning for higher yields, but there is a lot of risk. does that concern you at all? >> we have had this low, honestly we are hovering near 2% now, the bigger picture is it is the better part of 30 years. from our viewpoint, we want to look at corporate bonds.
FOX News
Feb 14, 2013 1:00pm PST
failed to get any negotiation with republicans over the debt ceiling. he said guys, i have an idea, it's called sequester. $1.2 trillion over 10 years. you know what republicans said in we don't like that you want half the cuts to come from defense. no, we're going to do it. now the president doesn't want it because he's not interested in cutting. >> they both signed on to the agreement. i called it a backup backbone. but i agree with you on this, the cuts are not cuts, they're shaving off the growth of varies programs in the future so nothing is outright cut. in a $3.5 trillion budget, $82 billion is a joke. having said that, it's better than nothing. it's better than just letting this pass by. >> right. you know why it's better? the american people have said that the debt in our debt deficit is their biggest worry. pew research did a study and guess where the deficit and debt was with american people. number one. american people know what's good for the country but the president doesn't seem to. i think the sequester is a great start but i want your -- i want everybody to understand
FOX News
Feb 16, 2013 12:00pm PST
. there may be other things that may be more serious or just as serious. for example, the debt ceiling where common ground is impossible to find. it does reflected a larger dysfunction within the process and more significant gridlock but very hard to overcome. >> kelly: you know as well we know that is painful to the future of our country. hopefully, great minds can come together and find a common ground at which you speak. michael, we thank you for sharing your insights. >> thank you i really appreciate that. >> heather: my alma mater. >> kelly: i used to live down there. >> heather: that does it for us. thank you so much for watching. >> kelly: we're proud of the tarheels don't forget about the blue did he have i ams. >> heather: i'll see you back here tomorrow. >> kelly: thanks everybody. have a great day. anyone have occasional constipation, diarrhea, gas, bloating? yes! one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. live the regular life. phillips'.
FOX News
Feb 16, 2013 4:00pm PST
the board spending cut that is came about as a result of the debt ceiling fight two years ago. they will slowly kick in on march 1st and hit hur military especially hard. the army chief of staff reporting that our sold yirs could see longer time in stanford . top navy officials warning about the raidness of fleet of aircraft carriers and may not be able to deploy to carriers in the same time. steech is live in washington. >> there is troops in stanford, many of them serving multiple tours of duty and have to stay in the combat zone longer than the usual one year if drastic budget cuts go through. here is the army chief of stampt >> for example, we'll curtail training for 80 percent of ground forces. this will impact ourits war fighting skims and introduce short fall necessary critical specialities. including aviation and intelligence and engineering and our ability to ricruit soldiers in to our army. >> training would be a major casult i there is other consequences. less maintenance was expensive war fighting equipment and republicans blame the president for the whole crisis.
Feb 15, 2013 9:00pm PST
to the obama white house. it came in the middle of the 2011 fight over the debt ceiling. white house thought this is such a bad deal it will actually force congress that compromising on deficit reduction. well the xro miss never came now the sequester is here. deadline march first. in the newsroom, mark matthews abc 7 news. >> more to bring you. more coming up tonight. if you ever shoot trash as if it were a basketball. you have the gar pwaj badge can for you. we have that story as 7 news at 9 continues. that was 3 points continues. that was 3 points by theíáf- >> well take a look at the month old pig let from florida. he was born without the use of his back legs and wasn't given much of a chance to live until a veterinarian stepped in. pig let can now get around thanks to custom built wheelchair as you can see. made out of wheels from toy set and yes the pig is a massive hit on you tube. looks like a happy little guy. pretty cute too. all right one last check on the weather. in0vaivt. >> nice story. weather picture renice as well. live doppler 7 hd mostly clear 68 over the b
Feb 11, 2013 6:00am PST
the debt ceiling, and it looks like spending will be cut, but not the way anybody wants it to. >> if the sequester is allowed to go on, thousands of americans in fields like national security, education or clean energy are likely to be laid off. >> i don't like the sequester, and i think that it is taking a meat aex to the government a meat ax to many of the programs and it will weaken our national defense. >> there yu go. nobody likes it. okay. but the ut cuts amts to $85 million spread out over seven months from the beginning of march to september 30th, the end of the fiscal year of 2013, and according to the white house it would take a 13% out of defense budgets and 9% on domestic spending. what is at stake? it is civilian federal agencies to chop their budget by more than 8%, and to do it, they would cut workers and programs. for example on the education front, more than 1 million students could lose title one and head start benefits. and senior meals could all be cut on top of agencies like the ads and the social security, and food stamps and veterans' benefits, and socia
Feb 11, 2013 3:00pm PST
prescription free and save on refills at >>> i will not negotiate around the debt ceiling. they will not collect a ransom in exchange for the american economy. ordinary folks, they do their jobs. the notion that the elected leadership can do the same thing is mind boggling. it needs to stop. everybody here upts e understands this. this is not a complicated concept. >> the president is not backingdown from republicans. he's bringing the fight to them. today, we learn these executive actions on housing, gay rights and other issues. a gig move to bypass do-noeg republicans in congress. priding congress to pass his agenda and he's getting help from the american people to prod them, too. and those same su prters will launch a public out reach campaign to promote his agenda. then he'll take his vision on the road. as the president has said, change doesn't come from inside. it comes from outside. it comes from the people. >> for we, the people, understand that our country cannot succeed when a shrinking few do were well and a groix many bare lif make it. >> the election four year
Feb 12, 2013 6:00am PST
? in the last couple of months, we have seen them back away on debt ceiling. you postponed that. where do you go? it appears that president obama has the upper hand. seems like republicans are moving in the direction of the path of citizenship. that's around if your district. what specifically are you united behind that differentiates you from the president and can get past both through the republican house which i'm sure you can do, but through the senate and signed by the president of the united states? >> the number one priority is the budget. if i that r they don't pass a budget, they won't be paid. the house laid out a plan to balance the budget which we will do in the next years am i wish the white house would put the same pressure behind the senate democrats. they haven't been introduced yet and the ceo will be at the state of the union. this is the first and foremost thing we can do is get a budget passed. the republicans are strong and that sets a plan to put us on a path to agreeing this economy. >> the economy is the largest issue that the american public cares the most about. an emot
Feb 18, 2013 6:00am PST
side says we want this too. we've seen that in deal after deal after deal when it comes to the debt ceiling. so i think there's a pressing your luck. >> the larger issue is nobody knows how to sell compromise as victory. everybody seems to want to, i won, he lost. there seems to be too much of this. trivia time. in honor of president's day, washington and lincoln are the most common presidential names for places in the united states. when president's suriname comes in at number three? jackson. there are 94 washington, 70 lincoln, 66 jackson in the united states. congratulations. today's winner, michael diamond. a political trivia question for us? e-mail us at and we'll be right back. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. and as we were looking through the photos i realized there were none of me. and i said something needs to change. weight watchers gives me everything that i could possibly need to be successful. it teaches
Feb 18, 2013 9:00am EST
beginning march 1st. part of the deal made with congress in exchange for raising the debt ceiling. then to find $1.2 trillion over 10 years. nondefense agencies will have to tighten spending by 9%. defense spending will take 13% hit for this fiscal year. some say the affects of the cuts are being exaggerated and some republicans have split opinions. >> there are many ways to do this but the president promised it wouldn't happen. he's the commander-in-chief. and on his watch, we're going to begin to unravel the finest military in the history of the world. >> the pentagon needs a thorough overhaul. i'm a hawk but i'm a cheap hawk. f 35 overrun problem, it is obscene and disgrace full and people will be demanding we fix the system. >> some federal watchers are saying the government agencies are putting out these outrageous cuts, these outrageous worst case scenarios to put public pressure on congress to come up with some sort of a deal. they do say the total amount of the budget cuts only amount to 3% of the federal budget. there's a subtext going on here. think maybe we should let s
Search Results 63 to 88 of about 200 (some duplicates have been removed)